EMERYVILLE, CALIF. — Public Market, a 272,000-square-foot, mixed-use development in the East Bay submarket of Emeryville, has received $42.5 million in financing. The acquisition financing was provided to a joint-venture between Angelo, Gordon & Co. and City Center Realty Partners, LLC. The non-recourse loan features a floating interest rate and a six-year term. It also allows for a one-year extension and a future funding component t cover property renovations, leasing commissions and tenant improvements.
Public Market contains 153,000 square feet of retail space, including a 10-screen Regal theater. Other notable tenants include Urban Outfitters, Guitar Center, Peet’s Coffee & Tea, Regal Cinemas and In-Shape Health Club. It also contains a 119,000-square-foot, Class A office tower that is occupied by Random House, Silicon Valley College and Rocket Software, among others. The Bank of America loan was secured by HFF’s Peter Smyslowski and Kevin Redford.